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Current Attempt in Progress Crane Inc. uses the accrual method of accounting for financial reporting...

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Accounting

Current Attempt in Progress
Crane Inc. uses the accrual method of accounting for financial reporting purposes and appropriately uses the installment method of
accounting for income tax purposes. Profits of $1080000 recognized for books in 2024 will be collected in the following years:
The enacted tax rates are: 30% for 2024,25% for 2025, and 20% for 2026 and 2027. Taxable income is expected in all future years.
What amount should be included in the December 31,2024 balance sheet for the deferred tax liability related to the above temporary
difference?
$44000
$224800
$180800
$324000
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